Mass Merchant

Move over Black Friday.   The biggest shopping day in terms of holiday sales is expected to be Friday, Dec. 23, while the biggest day in terms of store traffic is expected to be Saturday, Dec. 17, according to RetailNext Inc. (See lists at end of story.) It’s the first time in many years that Black Friday failed to top either of the lists.    

In a bold stand, Mall of America will be closed on turkey day this year.     The mall, located in Bloomington, Minnesota, has been open for business on the holiday for the past four years. The 5.6 million-sq.-ft. mall has more than 520 stores and restaurants, and a number of attractions.      “In years past we’ve all rallied together to answer the call for 24/7 shopper access that the Thanksgiving/Black Friday weekend brings.”   

Signet Jewelers Limited has closed its previously announced investment from Leonard Green & Partners.   The private equity firm invested $625 million in the form of convertible preferred shares. The Signet board, as previously disclosed, increased its authorized share buyback program by $625 million on August 25, 2016, in connection with the transaction.  

Ahold Delhaize on Wednesday announced that management board member James McCann had resigned to move into non-executive and advisory roles. The company has named Kevin Holt, Delhaize America CEO and Ahold Delhaize management board member, as his successor.   

New shopping center construction may be in a nationwide lull, but not in Tarrant County, Texas, where a developer is poised to break ground on a 90-acre parcel flanked by two other sizeable centers.   A partnership controlled by the De La Vega Group will begin building a mixed-use project called The Citadel across Interstate 35 from Alliance Town Center and adjoining the newly opened Presidio Town Center north of Fort Worth. Upon its completion, retail space will top 2 million sq. ft. in the submarket.  

Construction is underway at a planned 185,000-sq.-ft. center that will bring a top-level roster of value retailers to the western Kentucky town of Hopkinsville. Thompson Thrift is the developer.   Hopkinsville Town Center, located just north of Clarksville on the Tennessee border, will count Hobby Lobby, TJ Maxx, Ross Dress for Less, Ulta, Burke’s Outlet, Hibbett Sporting Goods, and Rack Room Shoes among its tenants when it opens in late 2017 or early 2018.  

One of Minnesota’s highest-volume malls is about to get a $76 million renovation that will give it new retail space and sight lines and – more rare these days – a new department store tenant.   Rosedale Center, a 1.14-million-sq.-ft. property situated between the Twin Cities of Minneapolis and St. Paul, will soon break ground for a two-level Von Maur store and parking deck with 1,100 spaces, according to owner JLL. Macy’s and J.C. Penney already do business there.